PDF Solutions® Reports First Quarter 2024 Results
PDF SOLUTIONS, INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME (UNAUDITED)
(In thousands, except per share amounts) | | | | | | | | | |
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Three months ended |
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March 31, | |
December 31, | |
March 31, |
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2024 | | |
2023 | | |
2023 | |
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| GAAP net income (loss) | | $ | (393 | ) | | $ | 887 | | | $ | 355 | |
| Adjustments to reconcile GAAP net income (loss) to non-GAAP net income: | | | | | | | | | |
| Stock-based compensation expense | | | 6,110 | | | | 5,923 | | | | 4,884 | |
| Amortization of acquired technology under costs of revenues | | | 584 | | | | 586 | | | | 553 | |
| Amortization of other acquired intangible assets | | | 259 | | | | 306 | | | | 325 | |
| Expenses of arbitration (1) | | | — | | | | 75 | | | | 2,133 | |
| Tax impact of valuation allowance for deferred tax assets and reconciling items (2) | | | (813 | ) | | | (2,060 | ) | | | (980 | ) |
| Non-GAAP net income | | $ | 5,747 | | | $ | 5,717 | | | $ | 7,270 | |
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| GAAP net income (loss) per diluted share | | $ | (0.01 | ) | | $ | 0.02 | | | $ | 0.01 | |
| Non-GAAP net income per diluted share | | $ | 0.15 | | | $ | 0.15 | | | $ | 0.19 | |
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| Weighted average common shares used in GAAP net income (loss) per diluted share calculation | | | 38,500 | | | | 38,814 | | | | 38,859 | |
| Weighted average common shares used in non-GAAP net income per diluted share calculation | | | 39,053 | | | | 38,814 | | | | 38,859 | |
